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World Debt Crisis

Detroit…America’s Greece or Ancient Rome?

January 24, 2012 at 11:03 pm 0 comments

Does Detroit’s fate foretell the end of American democracy? In becoming the first major American city to die before our eyes, Detroit is the prime case study of the destructiveness of the traditional liberal model of governance, public-sector-union rapacity, and the abandonment of any sense of civic responsibility by a [...]

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IMF: 2012 Will See Another Recession

January 24, 2012 at 11:00 pm 1 comment

The world economy is slowing sharply, and the euro region is headed for recession this year, the International Monetary Fund predicted Tuesday in a bleak update of global conditions. Overall, the world economy is expected to expand 3.25 percent in 2012 — down from the 4 percent projected by the [...]

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Davos: Capitalism is Broken, Let’s Try Socialism…No One Has Thought of That Before

January 24, 2012 at 5:14 pm 1 comment

Economic and political elites meeting this week at the Swiss resort of Davos will be asked to urgently find ways to reform a capitalist system that has been described as “outdated and crumbling.” “We have a general morality gap, we are over-leveraged, we have neglected to invest in the future, [...]

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Debt Crisis? I Know, Let’s Print More Money!

January 17, 2012 at 11:19 pm 0 comments

Federal Reserve officials are seriously considering giving the US economy—and especially the housing market—an added jolt with more quantitative easing. Fed officials are likely to discuss such a move at their Jan. 24-25 meeting, when the central bank will issue its first quarterly forecast on interest rates under the new communication policy. [...]

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My Big, Fat Greek Debt

January 17, 2012 at 11:16 pm 0 comments

Negotiations between creditors and debtors often turn into games of chicken—especially when debtors use the prospect of default to their advantage. That’s certainly been true for Greece, but now the lines are being drawn a little differently. To judge from the tenor of recent news, Athens and its private creditors [...]

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Merkel & Sarkozy Meet For The 1000th Time To Discuss The Euro Crisis

January 12, 2012 at 5:03 pm 0 comments

And this time they thought they’d talk about growing Europe’s economy. The main significance of the Merkozy summit is that it seemed to signal a shift in emphasis. True, the austerity agenda—promoted by the Germans and grudgingly accepted by the French—is still there. Indeed, Mr Sarkozy boasted that France’s fiscal [...]

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Europe Somehow Gets Weirder

January 10, 2012 at 10:16 pm 0 comments

European financial markets have gotten very strange. Greece’s one-year government bond yield hit 376% yesterday, while Germany, Switzerland and the U.K. sold short-term debt this week at yields below 0%. That means investors are effectively paying the latter governments for the privilege of lending to them. Reuters also reported Monday [...]

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You Say Tomato…

January 5, 2012 at 10:39 pm 0 comments

First the Euro’s demise is a bad thing, now it’s a good thing??? For much of the past year, the euro surprised many investors by remaining resilient in the face of an intensifying crisis throughout Europe. But as 2012 has gotten under way, the euro’s Teflon is showing signs of [...]

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Even the Bankers Hate Themselves

January 5, 2012 at 10:35 pm 0 comments

This is no way to fix a financial system. ATTACKS on bankers by protesters from Occupy Wall Street, Occupy London and Occupy any city where a financier might have the temerity to turn a quick buck have spiced up the dreary economic news of the past year. Yet hostility is [...]

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Top Hedge Fund has Dire Predictions for 2012

January 3, 2012 at 11:31 pm 0 comments

Zombie economies are merely limping along. Bridgewater Associates has made big money for investors in recent years by staying bearish on much of the global economy. As the new year rings in, the hedge fund firm has no plans to change that gloomy view. Robert Prince, co-chief investment officer at [...]

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