Inquiring minds are making note of the current state of affairs in Greece. Here is a quick 10-point synopsis. Current Sorry State of Greek Affairs Greece did not meet the IMF's criteria for more aid The Greek government is collapsing The Greek prime minister threatened to resign An emergence meeting of the Greek Parliament could [...]
IMF "Ready and Willing" to Throw Away More Money; 10 Point Summary of Sorry State of Affairs; Market Repeatedly Calls Foolish Bluffs by IMF, ECB
Economic Trend
Comments Off
Jun 162011
Politicians 'Lying Through Their Teeth' on Greek Aid (and Everything Else Too)
Economic Trend
Comments Off
Jun 112011
Everyone understands that Jean-Claude Junker, the head of euro-zone finance ministers is a liar. He has openly admitted such. To what extent are other politicians lying? Der Spiegel explains Politicians 'Are Lying Through Their Teeth' on Greek Aid German commentators on Friday take a look at the latest efforts to save Greece, with a focus [...]
Open Revolt Against Trichet: German Politicians Demand "Private Creditor Involvement"; Finland Support for Bailout Vanishes
Economic Trend
Comments Off
Jun 102011
The feud between ECB president Jean-Claude Trichet and German finance Minister Wolfgang Schaeuble escalated in a major way today with members of German Parliament siding with Schaeuble and against the wishes of the ECB. German Politicians Demand Private Creditors Participate Please consider Germany MPs discuss resolution on Greece aid German members of parliament are discussing [...]
Jun 062011
Inquiring minds are reading a post from Steen Jakobsen, Chief Economist at Saxo Bank in Denmark. Please consider Steen's Chronicle: Consensus, buying time aren't acceptable There are three major themes this morning: the election in Portugal, Greece bail-out Part II, and confirmation of slowing US growth. Portugal On the surface, the Portuguese election looks like [...]
Jun 062011
My personal favorite post is the Fed Uncertainty Principle written April 03, 2008. I called for a huge power grab by the Fed well before it happened and well before the Lehman crisis and bank bailouts. Interestingly, the Fed Uncertainty Principle, especially corollary number 2, clearly applies to the ECB as well. Uncertainty Principle Corollary [...]