The liquidity tsunami that started in September of 2012 in the Marriner Eccles building and continued with the BOJ’s own epic QEasing expansion three weeks ago, has so far provided the impetus for Europe to kick the can of its inevitable dissolution for a few more months, yet slowly but surely the market is starting to read through the artificial levels implied by Italian and Spanish bonds, driven by recycled [...]
AS FOUNDER of a new Eurosceptic party, Bernd Lucke, an economics professor, is among the most controversial figures in Germany. The website of his Alternative for Germany party went online this month. Its first gathering is in April, and it has until the summer to collect up to 2,000 signatures in each of Germany’s 16 states in order to get on the ballot for the federal election in September.
Supported by [...]
Sinkholes are common where the rock below the land surface is limestone, carbonate rock, salt beds, or rocks that can naturally be dissolved by ground water circulating through them.
As the rock dissolves, spaces and caverns develop underground. Sinkholes are dramatic because the land usually stays intact for a while until the underground spaces just get too big.
If there is not enough support for the land above the spaces then [...]
Police are still investigating what caused a 100-foot-wide sinkhole in Florida that killed a man when the ground disappeared beneath his house.
The fear of looming danger is real and present all over the globe, and pictures of the terrifying holes that appear seemingly unannounced and leave a trail of bodies and damage in their wake.
Officially sink holes are caused by the dissolution of soluble bedrock and the frequency and likelihood [...]
by Ron Paul
Is all the recent talk of secession mere sour grapes over the election or perhaps something deeper? Currently there are active petitions in support of secession for all 50 states, with Texas taking the lead in number of signatures. Texas has well over the number of signatures needed to generate a response from the administration, and while I wouldn’t hold my breath on Texas actually seceding, I believe [...]
Oh the irony. As I have been writing about almost obsessively as of late, while the idiotic EU bureaucrats pat themselves on the back for “saving Europe,” their disastrous policies are actually pushing individual countries themselves towards a dissolution into smaller regions! I first touched on this in my piece Forget the Euro…Will Spain Ultimately Break Up? I then wrote about how the independence movement in Venice is gaining steam in First [...]
inland breaks stride with other nations claiming they aren’t even contemplating the end of Euro by telling the Telegraph it is only a matter of time.
If you have been watching the financial headlines the media is quoting more and more analysts and economists saying the ejection of Greece from the Euro-zone won’t be that big of a deal.
This of course comes after years of claims that such and event would [...]
Wolf Richter www.testosteronepit.com
It has been an onslaught. Eurozone heads of state, top politicians, unelected kingpins, and bureaucratic honchos threatened everyone in sight with the demise of the euro, or promised to do “everything” or “whatever it takes” to save it even if it violated treaties or the very foundation of European democracy. In between the lines, bit by bit, the mammoth costs of continuing the endless bailouts or of breaking everything [...]
The euro area faces a major economic crisis, most likely a series of rolling, country-specific problems involving some combination of failing banks and sovereigns that can’t pay their debts in full.
This will culminate in systemwide stress, emergency liquidity loans from the European Central Bank and politicians from all the countries involved increasingly at one another’s throats.
Even the optimists now say openly that Europe will only solve its problems when the alternatives look sufficiently bleak [...]
The banks are on high alert.
Hundreds of employees at big firms, some part of special teams, will be on standby this Sunday, awaiting the results of Greece’s pivotal election. They are preparing for the worst case. The fear is that the vote will heighten the chances of Greece exiting the euro and the global financial system will be shaken when the markets open on Monday.
After being largely unprepared for the extreme stress of [...]
From The Reformed Broker:
It is OK to admit when you don’t have an edge.
It is OK to say that you simply have no idea what’s happening next.
It is OK to sit out the possibility of an oversold bounce or a big snapback rally.
It is OK to shut down the trading software and shut your mouth.
There are forces at work here that many do not respect. There is “unprecedented” and then there is this, [...]
Cullen Roche, Pragmatic Capitalism
Okay, that headline is a little extreme (I actually laughed out loud as I wrote it), but I am trying to think like a European politician here. Let me explain. I’ve already said what I’d do if I was a member of the peripheral countries. I’d go right up to Angela Merkel and tell her that if Germany doesn’t start giving in to some of our demands that I’d take [...]
It’s worth noting that to the commoner little person, they really aren’t interested in political ideology, they want results, and many little-people hate the status-quo, because it crushes them whilst pretending to “protect and serve” them.
These may be real or imagined issues, perhaps, and maybe people are a bit over-reactive, or not, but many want the status-quo broken up and replaced – with what, they do not know. They just detest what has arisen [...]
Israeli Prime Minister Benjamin Netanyahu has struck a deal with the opposition Kadima party, avoiding the early general election he had sought.
Kadima’s recently-elected leader, Shaul Mofaz, is set to be named deputy PM.
Mr Netanyahu said their new coalition wanted a “responsible” peace process with the Palestinians and “serious” talks about Iran’s nuclear programme.
The move came as parliament debated its dissolution before an election Mr Netanyahu had planned for September.
Recession means new reality for Netherlands, stalwart economy of euro zone
The Netherlands is one of the richest and strongest economies in the euro zone. But, in recent months, the country has dipped back into recession as it tries to shave nearly $20 billion from its budget. It’s forced some people living on the margins to seek assistance.
Take a walk through one of central Amsterdam’s biggest and swankiest department stores and [...]
February 6, 2012
This speech before the House of Representatives, March 25, 1999, is collected in A Foreign Policy of Freedom (2007).
Mr. Speaker, today I rise with gratitude to Edmund Burke and paraphrase words he first spoke 224 years ago this week. It is presently true that to restore liberty and dignity to a nation so great and distracted as ours is indeed a significant undertaking. For, judging of what we are [...]
Prime Minister Stephen Harper’s Conservative Party has won a majority of seats in Canada’s general election, according to provisional results.
The Conservatives have won or are ahead in 167 of the country’s 308 electoral districts.
The New Democratic Party (NDP) is set to come second, with the Liberals trailing, Canadian media projected.
If the results are confirmed, Mr Harper would head a majority government for the first time.
Canadians voted on [...]
by Forward History
1) Addiction to cheap, sometimes nigh-slave labor: Rome had its slaves, and a good chunk of the capital’s actual citizens were basically wards of the state by the time everything came crashing down. In the U.S., we have farmed our jobs offshore, of course, but we rely on goods exported by countries that make their workers disappear if they complain. We “need” illegal [...]
by Charles Hugh Smith from Of Two Minds
Why The European Union Is Doomed
The structural flaw at the heart of the E.U. dooms it and the euro to either dissolution or radical tranformation.
To understand the structural flaw which dooms the European Union, we need to start with the Union’s fundamental financial characteristics.
The European Union established a single currency and trading zone for the classical Capitalist benefits this [...]
The first casualty of the great Irish “pension funded banker bail out” is the man responsible, Brian Cowen, himself. The Taoiseach has stepped down as the Fianna FÃ¡il party leader, but says he will continue to remain in office as Taoiseach. According to The Journal, “Speaking at a 2pm press conference, Cowen began his announcement in Irish, saying he was proud to have been [...]
First 6 months of 2010, Americans will continue to live in the ‘unreality’Ã¢â‚¬Â¦the period between July and October is when the financial fireworks will begin. The Fed will act unilaterally for its own survival irrespective of any political implications Ã¢â‚¬Â¦(source is from insider at FED meetings). In the last quarter of the year we could even see Martial law, which is more likely for the first 6 months of [...]
Terrorist attacks and the “Crash of 2010″. 40% devaluation at first = the greatest depression, worse than the Great Depression.
In the summer of 1998, based on classified data about the state of the U.S. economy and society supplied to him by fellow FAPSI analysts, Panarin forecast the probable disintegration of the USA into six parts in 2010 (at the end of June Ã¢â‚¬â€œ start of July 2010, as [...]