The Greek government is in disarray after the leak of an explosive report drawing up vast reparations claims against Germany, covering both the First and Second World Wars.
by Ambrose Evans-Pritchard, The Telegraph:
Premier Antonis Samaras held a special meeting with the foreign minister Dimitris Avramopoulos and other key officials this morning to limit the diplomatic damage from the 80-page report.
The document – stamped “Aporito”, or secret – was drafted by a panel [...]
1936 Redux – It’s Really Never Different This Time
While chart analogs provide optically pleasing (and often far too shockingly correct) indications of the human herd tendencies towards fear and greed, a glance through the headlines and reporting of prior periods can provide just as much of a concerning ‘analog’ as any chart. In this case, while a picture can paint a thousand words; a thousand words may also paint the biggest picture [...]
Greece was said to be seeking billions in compensation from Germany for debts owed from the Second World War as the German Constitutional Court prepared to deliver its pivotal ruling on the eurozone bail-out fund
The top court yesterday dismissed an eleventh hour demand for delay by a eurosceptic politician, but stock markets were muted ahead of the ruling, which could de-rail plans to boost the European Stability Mechanism (ESM), the [...]
Seventy-year-old Eletharias cannot afford to go the supermarket any more, so for the past few months he has started rummaging for food in dustbins.
He goes out in Athens at night so that no one sees. When Sky News met him, he was collecting onions from some wheelie bins.
“Since my pension was cut, I can’t buy food so I look through the garbage,” he said, “I can only pray that things [...]
As an asteroid hurtles toward Earth, terrified citizens pour into the streets of Brussels to stare at the mammoth object growing before their eyes. Soon, it will pass harmlessly by—but first, a strange old man, Professor Philippulus, dressed in a white sheet and wearing a long beard, appears, beating a gong and crying: “This is a punishment; repent, for the world is ending!”
We smile at the silliness of this scene [...]
by Joshua Brown
Psst…wanna learn something today?
The Institute for Economics and Peace is out with a monumental piece of research on how wars affect the US economy…
Using data from the Bureau of Economic Analysis, figure one shows the composition of U.S. GDP in consumption, investment, government spending and net exports and imports in per-capita terms. It can be seen the war years of 1941 to 1945 saw one of the most significant short term [...]
“Never forget, never forget, and I think it’s very important for Democrats especially to remember this, that if Hitler had not come along, Franklin Roosevelt would have left office in 1941 with an unemployment rate in excess of 15 percent and an economic recovery strategy that had basically failed.”
What the United States Corporations have done by buying out Congress and the last 4 or 5 presidents, is horrible. It is now estimated that out of 168 million Americans (of working age)
38 million are now unemployed. That’s almost 1 in 4 Americans ages 17 – 65!
What does this mean?
38 million Americans that had credit, now have none.
42 million Americans on Food Stamps
20 million Americans w/out a driver’s license
30 million [...]