Ireland
German Production Is A Facade Built On Bad Loans...
Submitted by Tyler Durden on 07/13/2015 14:14 -0500Similar to the US banks who funded home owners that shouldn’t have received mortgages and made a fortune doing so – at least initially, the Germans funded the periphery nations in an effort to drive output growth domestically. However, financing a large portion of ones’ customer purchases is a high risk endeavour. And the Germans are in the midst of this hard lesson.
Even The Players Are Losing Faith In Their Own Shenanigans
Submitted by Tyler Durden on 07/13/2015 12:54 -0500What is on display more brightly and clearly than ever, though, is the utter fakery of international banking. The players have lost faith in their own shenanigans. They simply go through the motions now awaiting the political fallout, which is to say the revolt of the people who can still do arithmetic. The old refrain, “your check is in the mail” may not be so reassuring to folks who haven’t eaten for three days. Personally, I would expect the gasoline bombs to be flying around Syntagma Square before the middle of the week.
Yanis Varoufakis: "Merkel's Control Over The Eurogroup Is Absolute, They Are Beyond The Law"
Submitted by Tyler Durden on 07/13/2015 11:50 -0500The new Greek deal is "absolutely impossible, totally non-viable and toxic …[they were] the kind of proposals you present to another side when you don’t want an agreement." Speaking with The New Statesman, former Greek FinMin Yanis Varoufakis blasts Wolfgang Schaeuble's position which will lead to "a humanitarian crisis" for Greece and warns, regarding this latest creditors' proposal, "if anything it will be worse [for the Greeks]." His conclusion is succinct, "we were set up...," Merkel and Schäuble’s control over the Eurogroup is absolute, and that the group itself is beyond the law.
How Fascist Capitalism Functions: The Case Of Greece
Submitted by Tyler Durden on 07/12/2015 19:15 -0500There is democratic capitalism, and there is fascist capitalism. What we have today is fascist capitalism; and the following will explain how it works, using as an example the case of Greece. Simply out - The whole system is a money-funnel, from the public, to the aristocracy.
Tsipras Responds To Eurogroup Proposal, Demands Changes
Submitted by Tyler Durden on 07/12/2015 17:01 -0500Facing abject humiliation at the hands of the German finance ministry, Alexis Tsipras arrived at Sunday’s Eurosummit a broken man. Still, the PM did his best to fight the good fight, debating both the IMF's role in the third Greek program and the treatment of the country's debt with German Chancellor Merkel late Sunday evening in Brussels.
What Greece, Cyprus, And Puerto Rico Have In Common
Submitted by Tyler Durden on 07/08/2015 18:00 -0500We all know one thing that Greece, Cyprus, and Puerto Rico have in common – severe financial problems. There is something else that they have in common – a high proportion of their energy use is from oil. Most people don’t understand that our world economy runs on cheap energy.
Ragin' Contagion: When Debtors Go Broke, So Do Mercantilist Exporters
Submitted by Tyler Durden on 07/07/2015 13:45 -0500Despite endless assurances that the Greek debt crisis is contained, the reality is that the ragin' contagion of debt crises will spread not just to other deeply indebted nations but to the mercantilist economies that depend on selling goods to borrowers. Strip out the borrowing, and you strip out most of the customers for German, Dutch and Chinese goods.
US Mint Runs Out Of Silver On Same Day Price Of Silver Plunges To 2015 Lows
Submitted by Tyler Durden on 07/07/2015 13:25 -0500The US mint running out of physical silver, confirming surging demand, on the same day the price of spot silver plummets, implying dropping demand. just does not quite compute...
There is Only One Way Out For Greece
Submitted by Tyler Durden on 07/06/2015 19:00 -0500Brussels has been dead wrong. The stupid idea that the euro will bring stability and peace, as it was sold from the outset, has migrated to European domination as if this were “Game of Thrones”. Those in power have misread history, almost at every possible level.
Welcome To Blackswansville
Submitted by Tyler Durden on 07/06/2015 13:47 -0500While the folks clogging the US tattoo parlors may not have noticed, things are beginning to look a little World War one-ish out there. Except the current blossoming world conflict is being fought not with massed troops and tanks but with interest rates and repayment schedules. Germany now dawdles in reply to the gauntlet slammed down Sunday in the Greek referendum (hell) “no” vote. Germany’s immediate strategy, it appears, is to apply some good old fashioned Teutonic todesfurcht — let the Greeks simmer in their own juices for a few days while depositors suck the dwindling cash reserves from the banks and the grocery store shelves empty out. Then what? Nobody knows. And anything can happen.
Tumbling Futures Rebound After Varoufakis Resignation; Most China Stocks Drop Despite Massive Intervention
Submitted by Tyler Durden on 07/06/2015 05:52 -0500- Australia
- Barclays
- BOE
- Bond
- Central Banks
- China
- Citigroup
- Consumer Confidence
- Consumer Credit
- Copper
- CPI
- Creditors
- Crude
- Crude Oil
- default
- Economic Calendar
- Equity Markets
- Germany
- Global Economy
- Greece
- headlines
- Hong Kong
- Initial Jobless Claims
- Ireland
- Italy
- Japan
- Jim Reid
- Market Conditions
- Markit
- Moral Hazard
- national security
- New Zealand
- Nikkei
- Portugal
- Price Action
- Reality
- recovery
- Saudi Arabia
- Shenzhen
- Swiss Franc
- Swiss National Bank
- Trade Balance
- Volatility
- Wholesale Inventories
- Yen
- Yuan
More than even the unfolding "chaos theory" pandemonium in Greece, market watchers were even more focused on whether or not China and the PBOC will succeed in rescuing its market from what is now a crash that threatens social stability in the world's most populous nation. And, at the open it did. The problem is that as the trading session progressed, the initial 8% surge in stocks faded as every bout of buying was roundly sold into until every other index but the benchmark Shanghai Composite turned sharply red.
A "No" Victory Appears Probable: What Happens Next According To Deutsche Bank
Submitted by Tyler Durden on 07/05/2015 12:04 -0500- N1 – Soft deal: The most unlikely scenario is that the euro-area partners offer a much softer programme to Greece.
- N2 – Default-and-stay: Moderately less unlikely is a scenario where Greece defaults but stays in the euro thanks to a direct recapitalisation of Greek banks by the euro-area partners, with the Greek government using only domestic resources for the country’s fiscal needs.
- N3 – New deal: The third scenario is one in which the rising economic and political cost of a closed banking system results in the Syriza government being replaced by a new government of national unity and a new deal with creditors being reached.
- N4 – Grexit: In our view, Grexit and Scenario N3 are the most likely – with about equal probabilities.
Greek Referendum Polls Close: "No" Seen Ahead By Most
Submitted by Tyler Durden on 07/05/2015 11:05 -0500A poll by GPO on Mega TV gave 51.5% in favor of “no” and 48.5% in for “yes”
Metron Analysis on Antenna TV showed “no” leading with 49% vs 46% for “yes”
MRB on Star TV showed “no” leading with 49%-54% vs 46%-51% for “yes”
Marc opinion poll for Alpha TV shows “no” ahead with 49.5%-54.5% vs 45.5%-50.5%
The Greek Bluff In All Its Glory: Presenting The Grexit "Falling Dominoes"
Submitted by Tyler Durden on 07/04/2015 21:46 -0500They Want To Use "Hate Speech Laws" To Destroy Freedom Of Speech In America
Submitted by Tyler Durden on 07/04/2015 20:55 -0500Even if you never intended to offend anyone and you had no idea that your words were insulting, in some countries you can be detained without bail and sentenced to years in prison for such speech. Today, there are highly restrictive hate speech laws in Canada, in Mexico and in virtually every single European nation. The United States is still an exception, but the truth is that our liberties and freedoms are being eroded every single day, and it is only a matter of time until “hate speech laws” are used to take away our freedom of speech too.



