Earlier today, it was Putin's turn to troll not only the DOJ, but also Barack Obama who is currently in Ethiopia as part of his African tour when in an interview aired by Swiss broadcaster RTS on Monday Putin said that Sepp Blatter deserves a Nobel Prize for his stewardship of soccer’s governing body. “I think people like Mr Blatter or the heads of big international sporting federations, or the Olympic Games, deserve special recognition. If there is anyone who deserves the Nobel Prize, it’s those people.”
Owning gold is saving, which by definition is civilized, i.e. NOT barbarous. Debt, on the other hand, is the exact opposite. It is a lack of savings that shows a complete disregard for the future. It is the modern equivalent of gorging on some wild beast with no thought to tomorrow’s meal… or in this case, no thought of tomorrow’s generation. Debt is the barbarous relic. Not gold. And governments are up to their eyeballs in it, continuing to engage in this primitive, uncivilized behavior with wanton abandon.
Varoufakis: Greek Deal Is "Coup", Turns Greece Into "Vassal" State, And Deals "Decisive Blow" To European ProjectSubmitted by Tyler Durden on 07/14/2015 20:33 -0400
Europeans, even those who give not a damn for Greece, ought to beware.The Euro Summit statement of yesterday morning has nothing to do with economics, nor with any concern for the type of reform agenda capable of lifting Greece out of its mire. It is purely and simply a manifestation of the politics of humiliation in action.
With apologies to his fans, Jerry is an evil little mouse who constantly pesters Tom the Cat. Tom tries and tries, but cannot seem to overpower someone who is a fraction of his size and strength.
In hyperinflation, the currency's purchasing power collapses. Many Fed critics have predicted this will come soon, though it hasn't happened yet. However all is not well with the dollar.
... Greeks should be united in their fight for the rule of law and against the cleptocracy, and not divided over a referendum on an absurd question. That division, however, serves the cleptocrats well—they can go about their usual ways unnoticed. Whoever said “divide and rule” knew what they were talking about.
"...won’t a successful Greece show others that — much as many young people who cannot afford to pay their rent return home — they, too, can return to the way things used to be?..."
Simply put - Europe can't 'afford' anything positive to come of Greece...
An extensive look at what would happen if Greece were to leave the Eurozone, through a legal fudge.
Rome didn't fall so much as erode away. That's the template for collapse. While collapse may be sudden, the decay that generated the collapse had been rotting away the foundation for years or decades.
Ronald Reagan is surely rolling in his grave. He is credited for much that he didn’t actually accomplish on the economic front, but his most singular real victory - decisive repudiation of the Keynesian macro-economic policy model that had produced stagflationary havoc for more than a decade - overshadows all his fiscal failures and the urban legend that he actually tamed Big Government. Needless to say, however, that 35-years ago repudiation has now been itself completely repudiated by the keynesian apparatchiks who presently rule the Eccles Building. This week Janet Yellen was at it again, displaying outright contempt for the Gipper’s crowning achievement.
The serial bubbles of the 2000’s are nothing more than what was wrought of the 1920’s, in general. The monetary character of both is not coincidence, as the failures that bookend each of these ages induces the transformation: from monetary to fiscal and back to monetary again. That looks like progress and accountability, but in each it only leads to more extreme measures (relative to the last) to still achieve what Robert Owen and Karl Marx conceived more than a century and a half ago. That leads us to 2015 and what is certainly the ragged end of the eurodollar standard. The third socialist age was undone by August 2007, but that did not stop its proprietors of “eurodollar socialism” under the name “investor capitalism” from trying to rebuild and restore it to full capacity. The groundwork has already been laid, and it is exactly what you would expect given the history since 1907. There are no widespread details about a return to capitalism and sound money practices, only how to overcome the third installation of that timeless barrier thrown down in the collapse of each of the asset bubbles so far – value.
By accepting the story as told without regard to integrity of truth we have allowed ourselves to become feed for those controlling the story and thus the system. As the charts above clearly depict we have two distinct economic states. One is perceived and the other is real. The perceived state gets sole attention allowing the economic cannibalism to continue and draws us further out to the middle of the lake. And as the ice disappeared so quickly not yet 7 years ago it will again reveal itself only a perception created by policymakers for sycophants so willing to feast and profit on the rest of us and, perhaps more startling, on their own future well being.
The system is corrupt… and dangerously dysfunctional. But why does no one say so? Opinion makers such as Paul Krugman and Larry Summers misunderstand intentionally. But who speaks for the next three decades? Everyone wants more credit, more inflation, more bubbles, more subsidies, and more special privileges. Who’s on the other side of the trade?
"The real lesson from Europe is actually the opposite of what conservatives claim: Europe is an economic success, and that success shows that social democracy works."
s it any wonder Marin Le Pen's Front National Party is a) leading in the polls, and b) pushing for an EU in/out referendum? Whatever it is that France (and/or Europe) is doing, is not working. Despite all the promises, French unemployment has risen practically non-stop for 4 years and just hit a new all-time record...