Armstrong Economics: Entering Phase II of The Debt Crisis

Posted by: Chopshop

Post date: 03/20/2010 - 04:48

Phinance's phavorite political prisoner, Martin Armstrong, cautions that "the EU is in dire position", on the precipice of shattering. Since "debts will never be paid and interest expenditures are the greatest transfer of wealth in history ... Western society is falling apart ... If we do not act, civil unrest will explode. The current choice is DEFAULT or HIGHER TAXES & CIVIL UNREST ... Someone has to step forward to save us or we may be doomed. It's time to wake up for this is the future of our children and their children at stake. "

China's Fragile Economy, Its Housing Bubble, and What It Means To Us: Download

Posted by: Econophile

Post date: 03/20/2010 - 00:41

As promised, here is the complete article, "China's Fragile Economy, Its Housing Bubble, and What It Means To Us," in a downloadable PDF. You can download it, print it out, and read the entire piece at your leisure. The conclusions aren't encouraging, for them or us.

Europe's Commercial Real Estate Timebomb?

Posted by: Leo Kolivakis

Post date: 03/19/2010 - 17:00

Europe faces a commercial property debt timebomb with almost €1 trillion (£896bn) outstanding from the sector and a quarter of that potentially distressed. The UK accounts for 34% of the €970bn total, with Germany second with 24%. Not to worry, global pension funds are busy snapping up properties but do they really know how long it will be before this crisis blows over? And what if it gets a lot worse before it gets better? Are pensions prepared to deal with those losses?

Sigh, More Almunia Headlines

Submitted by Tyler Durden on 02/09/2010 10:48 -0500

Greece

10:44 02/09 EU ALMUNIA: SUPPORT SHOULD BE IN RETURN FOR GREEK EFFORTS
10:43 02/09 EU ALMUNIA: WANTS EU LEADERS TO SAY THEY WILL SUPPORT GREECE
10:41 02/09 EU ALMUNIA: CURRENT SITUATION MOST DIFFICULT SINCE EMU START
10:41 02/09 EU ALMUNIA: EU SPECIAL SUMMIT THURSDAY V IMPORTANT
10:40 02/09 EU ALMUNIA: NEED TO REESTABLISH CONFIDENCE IN EMU, EURO
10:34 02/09 EU ALMUNIA: NEED TO INCREASE COORDINATION IN EURO ZONE
10:36 02/09 EU ALMUNIA: EMU CAN AND SHOULD SOLVE GREECE BY OURSELVES

Your rating: None Average: 5 (2 votes)

by Internet Tough Guy
on Tue, 02/09/2010 - 10:51
#223260

Smell the bailout.

by Miyagi_san
on Tue, 02/09/2010 - 10:58
#223273

reminds me of those sign holders at an intersection...desperation smells

by Anonymous
on Tue, 02/09/2010 - 11:09
#223299

"desperation?". No, I say coordination with his boses. I thought he said everything is good back in Davos. And I though those are criminal who are causing the disruption. So why yield to them?

by bugs_
on Tue, 02/09/2010 - 11:17
#223313

Poker face!

by rubearish10
on Tue, 02/09/2010 - 11:18
#223320

Bernanke hearing postponed due to weather or whether he's needed in Greece bailout stratgey. Kinda coincidental w/Trichet's early return to EU??? Ummmm.

by Gordon Freeman
on Tue, 02/09/2010 - 11:19
#223321

Almunia=Perfumed Prince. Utterly worthless, even as a bureaucrat

by Anonymous
on Tue, 02/09/2010 - 11:19
#223322

Almunia is desperate lame duck of a comissar.

by Mr Lennon Hendrix
on Tue, 02/09/2010 - 11:21
#223328

Buh buh buh bailout!

We know how these banksters do it! Quick fix time, call BS, and run that press!

Surprised? Nah, this was the plan all along....destroy the currencies, then make some new ones. Order by chaos. Chaos by design. Out of the ashes will rise the phoenix once again.

by Assetman
on Tue, 02/09/2010 - 11:34
#223352

Perhaps the bailout is coming, but...

It will be interesting to see the conditions imposed on Greece as a result. No way in the world are the Germans going to accept the "blank check" route, when they are perhaps the most responsible party in the game.

The rest of the EU should realize that a blank check for Greece would open the door for more irresponsible behavior from the "non-cores", and even more blank check bailouts.

When all is said and done, I think Greece is going to be imposed it's own 12-step program to sobriety.

by carbonmutant
on Tue, 02/09/2010 - 13:34
#223643

Good Points.

by Anonymous
on Tue, 02/09/2010 - 21:02
#224365

someone said the same when the TBTF in US and Europe were bailed out, now TBTF are even bigger to fail, the bonuses are disguised but even bigger than 2007, so what makes you think Greece would be on road to sobriety after this bailout? Just because it's not america doesn't mean bailouts would be any more logical. The wheel of doom is just turning, it won't stop at Greece, in fact it would turn full circle stopping several times at each destination over the next 2 decades if Japan is any guide. When Koizumi finally forced the zombies to come clean on their debt, everyone thought the worst was over after 15 years. Five years on and 20 years after 1989, Japan is still in shit hole. The western shit hole would be around until our grandchildren's time.

by Assetman
on Wed, 02/10/2010 - 02:24
#224634

Because the Germans still have the scars from the Weimar Republic on full display. They are reluctant to bailout their own through money printing, let alone take on an irresponsibe rounding error economy like Greece. Huge difference, in comparison to Japan and USA.

There's always the possibility that Greece will fall off the wagon of the 12-step program. That's why the Germans have every incentive to limit bailout money to meet ST liquidity needs, and fiscally force the Greeks to make the necessary changes. About 20 billion euros should do...

If they, indeed, fall off that wagon... then Greece simply faces default, exit from the EMU, and a hat in hand with the IMF-- because they will need more money if they goof. The Germans shouldn't feel complled to do much more than that.

by Going Down
on Tue, 02/09/2010 - 11:35
#223356

Sigh. More Goldman Sachs Headlines

The Spiegel is reporting that Goldman Sachs helped Greece cover up part of its whopping deficit. The deal was reportedly done via a currency swap, using artificially high exchange rates.

http://ftalphaville.ft.com/blog/2010/02/09/145201/goldmans-trojan-greek-...