“Greece draws up drachma plans, prepares to miss IMF payment
‘We are a Left-wing government. If we have to choose between a default to the IMF or a default to our own people, it is a no-brainer,’ says senior Greek official”
Finally, the dreaded Greek default. It will not be the cataclysm that it once would have been, but it has deep implications for the E.U. and the future of the Euro.
Don’t worry, everything is better in
Tehran Europe. The whole Euro scheme isn’t teetering on the verge of collapse as IMF dollars are hastily imagined deposited into Europe’s hemorrhaging banks.
They are digging a hole so deep that if it collapses they will not dig out of it for 100 yrs.
” Global government bond yields tumbled to fresh lows on Tuesday as deflation fears boosted demand for haven assets.
The yield on the 10-year U.S. Treasury note fell below 2% for the first time since October, hitting the lowest level since May 2013.
The yields on the 10-year government bonds in Japan and Germany hit record lows. The yield on the 10-year U.K. government bond fell to the lowest level since 2012.
Strong demand for haven bonds underscores uncertainty over the global growth outlook, even as the U.S. economy has gained traction and the Federal Reserve ended its monthly bond buying in October.”
Nothing to see here. Stock market is banging at 18,000, oil is doing a black swan, $18 trillion in debt, the E.U. is teetering on recession, the Euro is plunging , S&P is falling off a cliff and Russia may do another global default.
What’s to worry about? 2015 should be a banner year.
Right. My prediction just before the elections was this: The election would be won big by the Repukes and within 3 to 4 months of them being seated, this whole mess was going to blow.
I think that the perfect shitstorm of economic collapse is brewing. The economies of both our country and the E.U.have been artificially pumped for too long and it has to give somewhere. I personally believe that it is going to be sooner rather than later.
On the upside: Worse is better. Be prepared to take advantage of worse.