Debts of states over $4 trillion: Budget group
“The total of U.S. state debt, including pension liabilities, could surpasses $4 trillion, with California owing the most and Vermont owing the least, according to an analysis released on Monday.
The nonprofit State Budget Solutions combined states’ major debt and future liabilities, primarily for pensions and employee healthcare, unemployment insurance loans, outstanding bonds and projected fiscal 2011 budget gaps. It found that in total, [...]
The G-7 is in full panic mode. The organization for the prevention of harm to the Status Quo was expected to release a communique possibly over the weekend, but the speed with which one was dropped for mass circulation is stunning and confirms that its members are in full meltdown as the weekend comes. It is now certain that the G-7 will attempt some [...]
Germanys reluctant taxpayers support of these weaker countries is collapsing. The massive overvaluation of the Euro is a crisis fraud. It is an unconscionable theft of taxpayer’s money to avoid the inevitable default of a major country like Italy or Spain and a run on its banks.
This time the situation is serious there is no bailout option unless the Euro is revalued or at least devalued [...]
Germany’s Der Spiegel seems hell bent on getting sued to hell and back by Greece. After a few weeks ago it “broke” the news of a secret meeting that would consider the expulsion of the country from the Eurozone, it is once again stirring passions with an article claiming that Greece has missed all fiscal targets agreed under its bailout plan, according to a mission [...]
Moody’s Ratings Agency has warned that the UK is amongst a handful of European nations that face “very real, common threats” from the sovereign debt contagion spreading through the continent.
Yesterday markets around the world reacted to evidence of debt contagion, even after Greece’s €110bn rescue package. As a result, the Euro has fallen to a 14-month low against the Dollar to $1.27, a six-month low [...]