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armstrongeconomics.com / By Martin Armstrong / May 12, 2014
Australia has been a resource-rich country that was used to running a surplus in the years headed into the 2007 financial crisis. The deficit now has a lot of people concerned in Australia – but not all. Australia is a highly socialistic country with very vocal [...]
goldbroker.com / By Philippe Herlin / April 24, 2014
« 50 billion euros in savings », stated Manuel Valls, the new Prime Minister, on April 15th. The announcement hit like thunder : After many hesitations, France is becoming aware of its difficult situation and takes vigorous action. Public spending has never decreased in 40 [...]
globaleconomicanalysis.blogspot.com / Mike “Mish” Shedlock / Saturday, April 05, 2014 9:07 PM
Francois Hollande’s new government is of to a shaky start.
The European Commission told Manuel Valls, Hollande’s new Prime Minister to “be more like Spain”, and impose more austerity to meet deficit targets. The irony of course is that Spain has failed at [...]
Plenty of excuses out there for this evening’s collosal miss in Chinese exports (-18.1% YoY vs an expectation of a 7.5% rise) mainly based on timing issues over the Lunar New Year (but didn’t the 45 economists who forecast this data know the dates [...]
zerohedge.com / by Tyler Durden / 01/13/2014 19:35 -0500
Any day, month, quarter, year, decade now; Goldman Sachs’ mythical J-Curve will arise from the cinder-strewn ashes of Japan’s current account. Japanese bond markets are rallying and JPY is weakening modestly after Abe’s increasingly disapproved-of government announced the worst balance of payments current account deficit on [...]
blog.milesfranklin.com / Andrew Hoffman / December 17th, 2013
There are times that even I am at a loss for words, and this is one of them. Perhaps I should have known better; but then again, I am not a government budget expert, and don’t have the time to analyze what the entire world failed [...]
silverdoctors.com / by Market Update / DECEMBER 17, 2013
In a search for the latest current account numbers of some European countries we stumbled upon an interesting page on Wikipedia. The page contained the cumulative current account balance of practically all countries in the world between 1980 and 2008, using data from the IMF [...]
yanisvaroufakis.eu / By Yanis Varoufakis / December 7, 2013
For the first time since the beginning of the bailout, the Greek authorities promised to oppose the demands of the troika and stated that it will not apply new austerity measures for the budget of 2014. Do you believe that, at the end, Samaras’ government [...]
zerohedge.com / by Tyler Durden on 12/04/2013 08:53 -0500
Moments ago, the Census Bureau announced that in October the US trade gap narrowed to $40.6 billion (which still missed expectations of “only” a $40 billion deficit) from an upward revised September deficit of $43 billion, as oil sales boosted exports to record [...]
The nonpartisan Congressional Budget Office is acting in a bipartisan way to cover up the biggest single threat to the bipartisan political alliance that is stripping America of its wealth: the United States Congress.
There is no question that the following policy is bipartisan. [...]
"And yet, despite the fact that it was a relatively benign lie, there is a tremendous reluctance among the American people to let go of the notion that we sent men to the Moon. There are a couple of reasons for that, one of them being that there is a romanticized notion that those were great years – years when one was proud to be an American. And in this day and age, people need that kind of romanticized nostalgia to cling to. But that is not the main reason that people cling so tenaciously, often even angrily, to what is essentially the adult version of Santa Claus, the Easter Bunny and the Tooth Fairy. What primarily motivates them is fear. But it is not the lie itself that scares people; it is what that lie says about the world around us and how it really functions. For if NASA was able to pull off such an outrageous hoax before the entire world, and then keep that lie in place for four decades, what does that say about the control of the information we receive? What does that say about the media, and the scientific community, and the educational community, and all the other institutions we depend on to tell us the truth? What does that say about the very nature of the world we live in?" - Wagging the Moondoggie, By David McGowan