Global Market Commentary, Analysis and Investments
According to the Organization for Economic Cooperation and Development (OECD), Greek unemployment is nearing 14 percent… but on-the-ground accounts peg joblessness closer to 90 percent in some regions.
The Greek government belt-tightening, in the form of austerity measures, should bolster the long-term economic health of the nation. However, in the near term many regions are hard hit by the stalled economy, including a suburban dock area called “the zone.?
[Read more...]The European Union bank stress test, which included 91 banks or about 65 percent of the EU banking sector, has resulted in seven failures: five Spanish, one Greek, and one German institution were unable to earn a passing mark… with a combined $4.5 billion shortfall. They are as follows:
* CajaSur (Spainish)
[Read more...]Faith in Europe’s nearly $1 trillion bailout is sputtering considerably. The latest Bloomberg tally shows 73 percent of global investors polled think it’s likely Greece will still default.
In addition, over 40 percent expect Greece to quit the euro. All that bailout sounds like money well spent, indeed.
[Read more...]Despite new austerity measures and a nearly trillion dollar eurozone rescue package, a UK research center is proclaiming that Greece’s days using the euro are numbered. The Centre for Economics and Business Research says it’s only a matter of time before Greece must abandon the euro and default on the roughly 300 billion it has racked up in debt.
[Read more...]The inner circle nations of the European Union have gone all in — to the tune of a trillion dollars — to rescue the periphery states. Perhaps they saved the day, but literally only one. All those funds tied up and theres already a chorus of renewed criticism shouting down the euro’s ability to recover.
[Read more...]In case you thought the US was standing by innocently while the European Union invented its own trillion dollar bailout, think again. Unsurprisingly, the US was intimately involved in this newest mind-boggling expenditure, whispering sweet nothings like “overwhelming force” directly into European ears.
[Read more...]Jim Rogers and Marc Faber were both interviewed recently on Bloomberg Television and each came to the same conclusion… the market is overbought and due for a correction. They suggest it’s time to start paring US stock investments.
From Bloomberg:
“Equities had a ‘normal correction’ and were ‘overdue for a sell-off’ after rallying from last years low, Rogers, Singapore-based chairman of Rogers Holdings, told Bloomberg Television today. ‘The market was overbought, ahead of itself and due for a correction,’ Faber, publisher of the Gloom, Boom & Doom report, said in a separate interview yesterday…
[Read more...]Rep. Ron Paul (R-TX) was on Fox News yesterday, discussing Greece and describing how the financial crisis has become a currency crisis… which is much worse. He sees an attack on the dollar in terms of gold, and has no doubt that the currency crisis is a worldwide problem.
Referring to whether or not Greece-like riots could take place in the US he says:
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The Falling Bottom Line
Children are taught it and adults repeat it. In the Western world, “religion” is the knee-jerk response as to why wars in the distant past were fought. It’s any easy way to explain away complex issues. By drawing God into conflicts that are entirely man made, initiators of the violence absolve themselves of all responsibility.
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