While the ESM fund is to come on line again in July; for the moment Merkel is rejecting any kind of joint debt issuance by the EU nations.
Under ‘no circumstances’ Germany will not support Euor backed bonds.
‘Beware a rerun of the Great Panic of 2008’: Head of World Bank warns Europe is heading for ‘danger zone’
- Robert Zoellick: ‘Far from clear leaders ready for impending catastrophe’
- Raft of dismal news from around world wreaked havoc on market
- Manufacturing output crashed in Britain, jobless up in Europe and U.S.
- Fast-emerging economies such as Brazil and China running out of steam
Read the article here.
Obama Administration Changes the Definition of Civilian
[youtube://http://www.youtube.com/watch?v=3t8xwpJZsNc 450 300]
Comments »BERLUSCONI TELLS GERMANY TO ‘LEAVE THE EURO’
Italy should start printing fresh euros and Germany should leave the currency union, former Italian Prime Minister Silvio Berlusconi said Friday, MF-Dow Jones reported.
“Here’s my crazy idea; Let’s start printing euros ourselves,” Mr Berlusconi told an assembly of his center-right People of Liberty party’s parliamentary deputies.
“Germany should leave the euro if it doesn’t agree with the European Central Bank serving as a lender of last resort,” he added, MF-Dow Jones said.
If the ECB doesn’t take on that role, Germany’s role in Europe should be reviewed, he said.
Comments »COCA-COLA TO NEW YORKERS: Michael Bloomberg Thinks You’re Stupid
Personally i think New Yorkers are a cut above the rest, but i’m biased. At any rate, while you all cry foul nanny socialist nazi controls, i will agree this is not the right way to go about curbing obesity. However, when a ‘sugary drink’ that is not made from sugar tricks your brain into thinking it is not satisfied it seems almost appropriate.
How many people or New Yorkers know that the brain is tricked by corn syrup creating an addictive response like heroin ?
Furthermore, for $KO to play up to New Yorkers as being smart is just a ploy to push your hazardous product. When i was youger i loved Coca Cola, but then stopped be cause of corn syrup and this:
[youtube://http://www.youtube.com/watch?v=8dlheziYWGU 450 300] Comments »Don’t Hate on Whistleblowers as They Often Shed Light on Reality
In this whistleblower story we find that the big banks who are run by the smartest people on earth really have put their thinking cap on the bench.
No longer do they deserve the title as master of the universe.
Comments »America Lost 129,000 Millionaires in 2011
“America’s millionaire population declined last year for the first time since the financial crisis, according to a new report.”
Comments »Charles Ferguson’s ‘Predator Nation: Corporate Criminals, Political Corruption, and the Hijacking of America’
“The economic disaster was driven, Ferguson writes, by a combination of “very low interest rates, pervasive dishonesty through the financial system, massive lending fraud, speculation, demand for high yield securities, and not insignificantly, a squeezed American consumer desperate to maintain living standards, and told by everyone – including George Bush and Alan Greenspan, the brokers and the banks, that home borrowing was the way to do it.”
Along the way, Ferguson debunks the right-wing meme that Freddie and Fannie Mae caused the bubble; he holds the pure private sector responsible, especially its least regulated shadow banking parts.”
Comments »Covert Drone War Helps to Recruit New al-Quaeda Members
BOMBSHELL: $JPM CIO Suspected of Mismarking Hundreds of Billions in CDS Swaps
This could be a potentially big problem for $JPM. While at the moment losses could only be $100s of millions it is unclear what the story is and makes the recent sale of $25 billion all the more suspect.
Comments »The Second Act Of The JPM CIO Fiasco Has Arrived – Mismarking Hundreds Of Billions In Credit Default Swaps
Tyler Durden — “Bottom line: Jamie Dimon’s “tempest in a teapot” just became a fully-formed, perfect storm which suddenly threatens his very position, and could potentially lead to billions more in losses for his firm.”
Read the article here.
Comments »Spain Faces ‘total emergency’ as Fear Grips Markets
Spain is facing the gravest danger since the end of the Franco dictatorship as the country is frozen out of global capital markets and slides towards an epic showdown with Europe.
Read the article here.
Comments »Former Spanish PM: ‘WE’RE IN A SITUATION OF TOTAL EMERGENCY’
It really is all about Spain.
“We’re in a situation of total emergency, the worst crisis we have ever lived through” said ex-premier Felipe Gonzalez, the country’s elder statesman.
The warning came as the yields on Spanish 10-year bonds spiked to 6.7pc, pushing the “risk premium” over German Bunds to a post-euro high of 540 basis points. The IBEX index of stocks in Madrid fell 2.6pc, the lowest since the dotcom bust in 2003.
The buzz is that Greece is an afterthought and that the Euro either lives or dies based on the immediate response to Spain.
Financial Rape and Usury Continues at Over 900 Colleges
Some 900 colleges have helped to design lucrative deals that take profits in untold millions as students suffer higher costs to get that education they strive for.
Comments »RICO Pays
The likelihood of prosecution on Wall st. for the debacle has all but faded away. In order to get business done these days you must consider bribery and fraud in some cases. Cronyism has reached a new pinnacle. A sad story for the “civilized’ world that believes in “law and justice.”
Comments »Euro Bonds are Likely Off the Table for Now
Getting the European Union to agree upon issuing bonds to create firewalls has always been a tough topic of discussion, but it is absolutely imperative the EU gets it shit together or else the world will only worry over a $LEH style event.
Comments »The ECB Contradicts Earlier Reports Over Assisting Spain’s Troubled Banks
More confusion in the Euro Folly Zone.
“The European Central Bank denied it has rejected a plan floated by the Spanish government to recapitalize Bankia, saying it hasn’t been approached.
“Contrary to media reports published today, the European Central Bank has not been consulted and has not expressed a position on plans by the Spanish authorities to recapitalize a major Spanish bank,” the Frankfurt-based ECB said in an e- mailed statement. “The ECB stands ready to give advice on the development of such plans.”
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