Archive - May 9, 2015 - Story

Fed-created bubbles are inevitably going to implode, because they have no relation to economic reality whatsoever.  And when they implode, millions of Americans are going to be financially wiped out. Just like David and Jackie Siegel, “America’s time-share king”, America just keeps on making the same mistakes over and over again - we simply can’t help ourselves. And in the end, we will all pay a great, great price for our utter foolishness.

The following map from Goldman compares the entire market cap of various European companies to assorted standalone US corporations. The result is just a touch eerie.

The US is applying political pressure to Greece in an effort to dissuade Athens from participating in Russia's Turkish Stream Pipeline project which has been implicitly used, at various times, as a negotiating tactic in discussions with EU creditors. As the Times suggests, this is further evidence that Washington is becoming increasingly concerned that the world is rapidly shifting away from the US-dominated, unipolar model that has existed, in one form or another, since the collapse of the Soviet Union. This consternation is beginning to manifest itself in the revitalization of Cold War politics.